Regulatory Alerts1998-07-14 | Resolución 071/98Added · Updated
Resolution 071/98 Approving Investment Margin in FLAR and CAF for the Second Semester of 1998
The Board of Directors of the Central Bank of Bolivia approves a maximum investment limit of US$40,000,000 in time deposits of up to six months in the Andean Development Corporation (CAF) and the Latin American Reserve Fund (FLAR) for the period from July 1 to December 31, 1998. This resolution maintains the authorization previously granted for the first half of the year, based on recommendations from the International Affairs Management and the Reserve Administration Committee. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 071/98
SUBJECT: INTERNATIONAL AFFAIRS MANAGEMENT - APPROVES INVESTMENT MARGIN IN FLAR AND CAF FOR THE SECOND HALF OF 1998.
HAVING VIEWED:
Law No. 1670 of October 31, 1995, Chapter II, regarding the functions of the BCB in relation to international reserves.
The Regulations for the Administration of International Reserves, approved by Board Resolution No. 080/97 of February 18, 1997.
Board Resolution No. 006/98 of January 13, 1998.
Report GAI No. 009/98 from the International Affairs Management dated July 10, 1998.
Report UAJUR No. 476/98 from the Legal Affairs Unit dated July 10, 1998.
CONSIDERING:
That Article 10 of the Regulations for the Administration of International Reserves stipulates that the BCB Board shall set the maximum limits for the investment of international monetary reserves in each of the multilateral, global, or regional organizations in which the country holds shareholding participation.
That Board Resolution No. 006/98 authorizes the investment of up to US$ 40 million in time deposits up to 6 months in the CAF and FLAR for the period between January 1 and June 30, 1998.
That Report GAI No. 009/98 from the International Affairs Management recommends maintaining the authorization to make investments in the FLAR and CAF during the second half of 1998.
That according to Report UAJUR No. 476/98 from the Legal Affairs Unit, there is no legal impediment to approving the investment limit in said multilateral organizations for the period July - December 1998.
That the Bank's Reserve Administration Committee, based on the criteria of security, liquidity, profitability, and institutional reciprocity established in the aforementioned Regulations, in its meeting of July 10, 1998, recommends maintaining the authorization to make time deposits in the FLAR and CAF, up to a maximum of US$40,000,000.- (Forty million 00/100 US dollars) for the period July - December 1998.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Approve as the maximum investment limit in the FLAR and CAF in time deposits up to six months, for the period between July 1 and December 31, 1998, the sum of US$40,000,000.- (FORTY MILLION 00/100 US DOLLARS).
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, July 14, 1998
Juan Antonio Morales A.
Armando Pinell S.
Jaime Ponce G.
Juan Medinaceli V.
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